Denver Colorado

[Shawn McMahon]

Hello Everyone, 

My partner and I are looking at buying our first home in the Denver area. Right now we are sick of Denver's rising rental rates and we think buying a house would be a smart idea right now. We've talked to a lender and I am currently qualified for 190k, 3.5% down FHA loan. Mortgage with taxes and insurance would be around $1350/month. Currently we are looking in the Broomfield/Westminster/Thornton/Arvada area but are open to other areas. Some concerns I have been thinking about:

1. I currently have a job in Denver, so I plan to be here for the next 3 - 5 years at least. However I do plan to move out of state eventually. After 3 - 5 years I would plan to either sell the house or hold onto the property and rent it out long term. Since I am only qualified for 190k the availability for single family homes in that price range is slim. On top of this, many homes in the Denver area do not cash flow well due to rising property costs. 

Current Denver area investors, what wisdom can you share about buying a home in the area at this time?